On September 6, the U.S. will release its August nonfarm payrolls report. Consensus expects around 75K new jobs and unemployment rising to 4.3% — the highest since 2022. Recent data confirm an economic slowdown, and investors are almost fully pricing a 25 bps Fed rate cut in September. However, a stronger-than-expected print could undercut dovish positioning and push U.S. yields and the dollar higher.
In crypto markets, ETH is consolidating near the top of its recent range, with support clustered at $4,250–$4,300 and resistance at $4,480–$4,500. The NFP release is likely to serve as the catalyst for a breakout in either direction. A weaker print may support ETH testing upside liquidity, while stronger data could see a retest of support zones.
Bitunix Analyst’s View:
The NFP report is the most important data point ahead of the September Fed decision. While markets have largely priced in a “high probability” cut, the risk lies in an upside surprise that triggers short-term selling pressure. For crypto, shifting rate expectations remain the key driver. ETH traders should watch $4,250 as critical support and $4,500 as immediate resistance for directional signals.
